2017 north american iot analytics platform for utilities
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2017 North American IoT Analytics Platform for Utilities
Product Leadership Award
VITRIA®
NORTH AMERICAN IOT ANALYTICS PLATFORM FOR UTILITIES
PRODUCT LEADERSHIP AWARD
2017
BEST PRACTICES RESEARCH
© Frost & Sullivan 2017 2 “We Accelerate Growth”
Contents
Background and Company Performance ........................................................................ 3
Industry Challenges .............................................................................................. 3
Product Family Attributes and Business Impact ........................................................ 3
Conclusion........................................................................................................... 6
Understanding Product Leadership ................................................................................ 7
Key Benchmarking Criteria .................................................................................... 8
Best Practices Award Analysis for Vitria ......................................................................... 8
Decision Support Scorecard ................................................................................... 8
Product Family Attributes ...................................................................................... 9
Business Impact ................................................................................................... 9
Decision Support Matrix ...................................................................................... 10
Best Practices Recognition: 10 Steps to Researching, Identifying, and Recognizing Best Practices ................................................................................................................. 11
The Intersection between 360-Degree Research and Best Practices Awards ..................... 12
Research Methodology ........................................................................................ 12
About Frost & Sullivan .............................................................................................. 12
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Background and Company Performance
Industry Challenges
Digital transformation through the Internet of Things (IoT) is rapidly changing the
business world, including utilities companies. With an increasing level of networking and
connectivity among people and machines/devices, exponential growth in new data is
likewise occurring. Nevertheless, today’s businesses already own massive volumes of
historical data, so managing the complexity of both historical and new data, making sense
of it, and translating it into critical business decisions proves challenging. Utilities
companies have difficulty translating such massive volumes of data (generated by smart
meters and smart grids, etc.) into actionable insights needed to better manage their grid,
prevent outages, and balance demand and supply. IoT analytics holds the key to
addressing this challenge and plays a critical role in converting large amounts of data into
usable information so that utilities companies can observe in real-time, make timely
decisions, seize opportunities, achieve desired business objectives, and generate optimal
results.
While utilities companies aim to benefit from real-time analytics and IoT applications, part
of the challenge stems from the fact that traditional processes and technologies are not
cut out for IoT analytics, its data variety, volume, and velocity. They lack the capabilities
needed including advanced and comprehensive real-time analytics techniques, visual
analytics, and IoT apps, to name a few. Developing IoT solutions using traditional
processes and technologies is difficult and requires specialized IT skills. Ultimately, these
significant hurdles call for a completely new approach to IoT analytics and technologies.
Under such circumstances, vendors that can provide a platform that is designed
specifically to meet the challenges of IoT analytics are expected to secure a leadership
position in the market.
Product Family Attributes and Business Impact
Match to Needs
Vitria’s 23 years of industry experience and thorough understanding of leading–edge
software development, business process improvement, real-time processing, and
advanced analytics have empowered it to address industry challenges and enjoy a unique
advantage in this space. For instance, Vitria started off by offering business process
management software in 1994, followed by an operational intelligence platform in 2005,
and in 2010, it developed a unified platform to discover, analyze, and act on insights from
live streaming data.
The company continues to evolve. Remaining true to its core mission of improving
software while deciphering the growing industry concerns surrounding existing
conventional processes and technology platforms that prove insufficient in IoT analytics,
Vitria has designed an IoT analytics platform specifically to meet the challenges of IoT
analytics solution development. The unique approach in product leadership that Vitria took
is to deliver not just one aspect of IoT analytics but rather a platform that combines
analytics, streaming data, and business process automation. This approach enables its
BEST PRACTICES RESEARCH
© Frost & Sullivan 2017 4 “We Accelerate Growth”
customers to improve every aspect
of their business as they can now
leverage the data streaming from all
IoT connections in their network.
Vitria’s comprehensive IoT analytics
platform effectively addresses the
industry’s need for deriving value
quickly through a unique concept
called an Analytics Value Chain. This
concept is currently redefining IoT
analytics by unifying fast data
ingestion, real-time streaming
analytics, historical analytics,
predictive analytics, prescriptive
analytics, and intelligent automated
actions in real-time.
In this unified platform the data is ingested quickly in real-time, and its open approach
leverages existing data warehouses as well as what Vitria calls an Open IoT Data Lake.
The advanced analytics engine (real-time streaming, historical-, predictive-, prescriptive-
analytics, and intelligent automated actions) provides all the context and real-time
actionable insights from across an IoT network to enable a faster decision making process.
In other words, real-time streaming analytics provides insights into current events,
historical analytics provides insights into past events, predictive analytics provides insights
into future events, prescriptive analytics recommends the next best actions, and, finally,
intelligent automated actions enable the fast responses and best actions to be taken to
maximize value from opportunities and threats. All the results are conveniently explored
and visualized using visual analytics.
Design
With an aim to render a seamless user experience, the IoT analytics platform is designed
with data ingestion and integration tools, elastic cloud computing, self-service analytics, a
visual model-driven development environment, machine learning, and a mobile app. The
platform also provides users a base for developing their IoT analytics applications. One of
the most impressive strengths of the platform is its machine learning environment
complete with tools that support the rapid operationalization and building of predictive and
prescriptive models.
Fast data ingestion and integration provide the tools required to process and integrate the
huge velocity, volume, and variety of data flowing in from not only IoT devices but also
from CRM and ERP systems, cloud sources, BPMS, and workflow and work management
systems. These tools deliver the context and situational intelligence required for
actionable insights. Keeping in mind that the volume and velocity of data also requires a
high level of scalability and elasticity, the Open IoT Data Lake is designed on a proven
elastic scalability model that supports the massive volumes of IoT data as well as the
Source: Vitria
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© Frost & Sullivan 2017 5 “We Accelerate Growth”
complete analytics lifecycle through open, scalable data services. Elastic scalability is
supported by open source and proprietary technologies. Query service, part of the Open
IoT Data Lake, is also designed for elastic scalability in order to meet the IoT analytics
requirements.
In addition, a visual indicator of key performance metrics is a powerful means of
accelerating operational analytics in IoT. Currently, data scientists are better served than
operational analysts who lack the appropriate analytics tools. What largely differentiates
Vitria’s Visual Analytics is Visual Explorer, a visualization and analytics tool created
specifically for operational and business analysts. Frost & Sullivan considers creation of
this tool a strong best practice because it offers a self-service diagnostic capability that
provides the insights required to address the challenges in IoT use cases such as
supply/demand optimization, renewables and grid integration, and consumer services.
The ability to connect to raw data, blend data from disparate data sources, interactively
explore and visualize real-time and historical data, and discover correlations, are activities
that Visual Explorer enables. A series of interactive dashboards (built using a dashboard
builder) can further provide a comprehensive view of the IoT network including the status
of key performance indicators and the ability to drill into and diagnose problems;
therefore, Vitria ensures its visual analytics is not only easy to use and understand but
also that operations and business analysts are updated with the latest analytical results
across the enterprise to make the right decision at the right time. In addition, the Vitria
Go Mobile App supports any device (mobile or tablet) from any location.
Another hallmark of the platform is its Visual Analytic Flow Designer, a model-based
development environment with low-code/no-code visual programming that enables the
rapid development of IoT solutions in days as opposed to months.
Product/Service Value
The value and application of Vitria’s platform, in terms of deployment in the utilities
industry, centers on supply/demand optimization, renewables and grid integration, and
consumer services. The volume of real-time actionable insights available to utilities
companies using Vitria’s advanced analytics platform enables them to rapidly transition
towards a real-time operations environment resulting in increased revenue, operational
efficiency, and reduced cost across their entire business. For instance, one of the
challenges faced by energy utilities companies is balancing supply and demand so that
brownouts and blackouts can be prevented. Vitria’s platform helps utilities companies
prevent major outages by minimizing variability in supply and demand. The platform’s
ability to leverage multiple data sources provides visibility into real-time supply and
demand activity, and its predictive maintenance eliminates disruptions and service
degradation. As a result, utilities companies can proactively balance supply and demand,
take actions, and prevent problems before they occur. The platform’s advanced analytics,
in a similar fashion, helps utilities companies maintain a safe and secure grid by
monitoring unsafe conditions and preventing problems in real-time.
Customer Acquisition
Vitria has successfully established a leading position for itself in the utilities industry. The
company has remarkably scaled up its services, especially in smart metering and IoT
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analytics where its real-time analytics platform has empowered some of the world’s
leading utilities companies to maximize their IoT programs by providing real-time
analytics on large networks of smart devices. For instance, Vitria’s platform successfully
manages and monitors more than 4 million smart meters for a leading gas and electric
carrier that operates in over 200 cities across Europe. Vitria currently has approximately
100 customers. Some of the leading utilities companies that have adopted its platform are
Vattenfall, Gotland Smart Grid project, Gas Natural Fenosa, Salzburg, TXU, and ORES
(Belgian Smart Grid Operations).
Growth Potential
Vitria’s IoT analytics platform currently supports over 70 million IoT devices and is soon
expected to support 100 million. The company’s growth potential is clearly accelerating as
numerous customers from different industry verticals are enthusiastic about the
opportunity to create value from real-time analytics in a connected world. Indeed, with 25
to 50 billion connected devices estimated by 2020, demand for Vitria’s IoT analytics
platform will undoubtedly surge.
So far the platform has been successful in promoting product leadership in utilities, and
now is drawing the attention of leaders from many other industries such as
manufacturing, telecommunications, retail, supply chain, and connected transportation
(real-time logistics visibility and order tracking). Two of its customers in these areas are
O2 (UK’s largest carrier and subsidiary of Telefonica) and Starbucks.
Currently, the company has 200 employees, the majority of which work in research and
development (R&D). Vitria’s overall vision is to offer the industry’s best IoT analytics stack
while continuing to build its partner network. With a dedicated focus on bringing
innovation into the field of IoT analytics, Vitria invests more than 40% of its revenues in
R&D. From an overall product growth and vision strategy, Vitria is continuing to leverage
open source tools, expand and improve the cloud deployment options for supporting easy
migration, focus on rapid solution development through the combination of low code/no
code visual programming, and innovate self-service tools.
Conclusion
Industry veteran Vitria has yet again secured an edge over competitors, this time by
developing a disruptive IoT analytics platform that leverages a unique Analytics Value
Chain concept. Frost & Sullivan recognizes product leadership in several differentiating
elements that enhance the product’s value proposition for its customers, such as fast data
ingestion, a comprehensive set of analytics techniques (ranging from descriptive to
predictive and prescriptive analytics), visual analytics with self-service tools, and
intelligent automated actions with a visual model-driven development environment. Most
importantly, utilities companies once restrained by traditional processes and technologies
are now able to successfully maximize value from their IoT initiatives and more quickly
achieve their desired business outcomes. With its strong overall performance, Vitria has
earned Frost & Sullivan’s 2017 Product Leadership Award.
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© Frost & Sullivan 2017 7 “We Accelerate Growth”
Significance of Product Leadership Ultimately, growth in any organization depends upon customers purchasing from a
company and then making the decision to return time and again. A comprehensive
product line, filled with high-quality, value-driven options, is the key to building an
engaged customer base. To achieve and maintain product excellence, an organization
must strive to be best-in-class in three key areas: understanding demand, nurturing the
brand, and differentiating from the competition.
Understanding Product Leadership
Demand forecasting, branding, and differentiating all play a critical role in finding growth
opportunities for your product line. This three-fold focus, however, must be complemented
by an equally rigorous focus on pursuing those opportunities to a best-in-class standard.
Customer communications, customer feedback, pricing, and competitor actions must all be
managed and monitored for ongoing success. If an organization can successfully parlay
product excellence into positive business impact, increased market share will inevitably
follow over time.
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Key Benchmarking Criteria
For the Product Leadership Award, Frost & Sullivan analysts independently evaluated two
key factors—Product Family Attributes and Business Impact—according to the criteria
identified below.
Product Family Attributes
Criterion 1: Match to Needs
Criterion 2: Reliability and Quality
Criterion 3: Product/Service Value
Criterion 4: Positioning
Criterion 5: Design
Business Impact
Criterion 1: Financial Performance
Criterion 2: Customer Acquisition
Criterion 3: Operational Efficiency
Criterion 4: Growth Potential
Criterion 5: Human Capital
Best Practices Award Analysis for Vitria
Decision Support Scorecard
To support its evaluation of best practices across multiple business performance
categories, Frost & Sullivan employs a customized Decision Support Scorecard. This tool
allows our research and consulting teams to objectively analyze performance, according to
the key benchmarking criteria listed in the previous section, and to assign ratings on that
basis. The tool follows a 10-point scale that allows for nuances in performance evaluation.
Ratings guidelines are illustrated below.
RATINGS GUIDELINES
The Decision Support Scorecard is organized by Product Family Attributes and Business
Impact (i.e., these are the overarching categories for all 10 benchmarking criteria; the
definitions for each criterion are provided beneath the scorecard.). The research team
confirms the veracity of this weighted scorecard through sensitivity analysis, which
confirms that small changes to the ratings for a specific criterion do not lead to a
significant change in the overall relative rankings of the companies.
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The results of this analysis are shown below. To remain unbiased and to protect the
interests of all organizations reviewed, we have chosen to refer to the other key
participants as Competitor 2 and Competitor 3.
Measurement of 1–10
(1 = poor; 10 = excellent)
Product Leadership
Product Family
Attributes
Business
Impact
Average
Rating
Vitria 9.5 9.5 9.5
Competitor 2 8.0 8.5 8.25
Competitor 3 7.0 7.0 7.0
Product Family Attributes
Criterion 1: Match to Needs
Requirement: Customer needs directly influence and inspire the design and positioning of
the product family.
Criterion 2: Reliability and Quality
Requirement: Products consistently meet or exceed customer expectations for
performance and length of service.
Criterion 3: Product/Service Value
Requirement: Products or services offer the best value for the price, compared to similar
offerings in the market.
Criterion 4: Positioning
Requirement: Products or services address unique, unmet need that competitors cannot
easily replicate or replace.
Criterion 5: Design
Requirement: The product features an innovative design, enhancing both visual appeal
and ease of use.
Business Impact
Criterion 1: Financial Performance
Requirement: Overall financial performance is strong in terms of revenues, revenue
growth, operating margin, and other key financial metrics.
Criterion 2: Customer Acquisition
Requirement: Product strength enables acquisition of new customers, even as it enhances
retention of current customers.
Criterion 3: Operational Efficiency
Requirement: Staff is able to perform assigned tasks productively, quickly, and to a high
quality standard.
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Criterion 4: Growth Potential
Requirements: Product quality strengthens brand, reinforces customer loyalty, and
enhances growth potential.
Criterion 5: Human Capital
Requirement: Company culture is characterized by a strong commitment to product
quality and customer impact, which in turn enhances employee morale and retention.
Decision Support Matrix
Once all companies have been evaluated according to the Decision Support Scorecard,
analysts then position the candidates on the matrix shown below, enabling them to
visualize which companies are truly breakthrough and which ones are not yet operating at
best-in-class levels.
High
Low
Low High
Bu
sin
ess I
mp
act
Product Family Attributes
Vitria
Competitor 2
Competitor 3
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© Frost & Sullivan 2017 11 “We Accelerate Growth”
Best Practices Recognition: 10 Steps to Researching,
Identifying, and Recognizing Best Practices
Frost & Sullivan analysts follow a 10-step process to evaluate Award candidates and
assess their fit with select best practice criteria. The reputation and integrity of the
Awards are based on close adherence to this process.
STEP OBJECTIVE KEY ACTIVITIES OUTPUT
1 Monitor, target, and screen
Identify Award recipient candidates from around the globe
Conduct in-depth industry research
Identify emerging sectors
Scan multiple geographies
Pipeline of candidates who potentially meet all best-practice criteria
2 Perform 360-degree research
Perform comprehensive, 360-degree research on all candidates in the pipeline
Interview thought leaders and industry practitioners
Assess candidates’ fit with best-practice criteria
Rank all candidates
Matrix positioning of all candidates’ performance relative to one another
3
Invite thought leadership in best practices
Perform in-depth examination of all candidates
Confirm best-practice criteria Examine eligibility of all
candidates Identify any information gaps
Detailed profiles of all ranked candidates
4
Initiate research director review
Conduct an unbiased evaluation of all candidate profiles
Brainstorm ranking options Invite multiple perspectives
on candidates’ performance Update candidate profiles
Final prioritization of all eligible candidates and companion best-practice positioning paper
5
Assemble panel of industry experts
Present findings to an expert panel of industry thought leaders
Share findings Strengthen cases for
candidate eligibility Prioritize candidates
Refined list of prioritized Award candidates
6
Conduct global industry review
Build consensus on Award candidates’ eligibility
Hold global team meeting to review all candidates
Pressure-test fit with criteria Confirm inclusion of all
eligible candidates
Final list of eligible Award candidates, representing success stories worldwide
7 Perform quality check
Develop official Award consideration materials
Perform final performance benchmarking activities
Write nominations Perform quality review
High-quality, accurate, and creative presentation of nominees’ successes
8
Reconnect with panel of industry experts
Finalize the selection of the best-practice Award recipient
Review analysis with panel Build consensus Select recipient
Decision on which company performs best against all best-practice criteria
9 Communicate recognition
Inform Award recipient of Award recognition
Present Award to the CEO Inspire the organization for
continued success Celebrate the recipient’s
performance
Announcement of Award and plan for how recipient can use the Award to enhance the brand
10 Take strategic action
Upon licensing, company is able to share Award news with stakeholders and customers
Coordinate media outreach Design a marketing plan Assess Award’s role in future
strategic planning
Widespread awareness of recipient’s Award status among investors, media personnel, and employees
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© Frost & Sullivan 2017 12 “We Accelerate Growth”
The Intersection between 360-Degree Research and Best
Practices Awards
Research Methodology
Frost & Sullivan’s 360-degree research
methodology represents the analytical
rigor of our research process. It offers a
360-degree-view of industry challenges,
trends, and issues by integrating all 7 of
Frost & Sullivan's research methodologies.
Too often companies make important
growth decisions based on a narrow
understanding of their environment,
leading to errors of both omission and
commission. Successful growth strategies
are founded on a thorough understanding
of market, technical, economic, financial,
customer, best practices, and
demographic analyses. The integration of
these research disciplines into the 360-
degree research methodology provides an
evaluation platform for benchmarking
industry participants and for identifying
those performing at best-in-class levels.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth
and achieve best-in-class positions in growth, innovation and leadership. The company's
Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined
research and best practice models to drive the generation, evaluation, and implementation
of powerful growth strategies. Frost & Sullivan leverages more than 50 years of
experience in partnering with Global 1000 companies, emerging businesses, and the
investment community from 45 offices on six continents. To join our Growth Partnership,
please visit http://www.frost.com.
Copyright
This research is owned by Frost & Sullivan. No part of this research may be disclosed to
external parties without formal written permission from Frost & Sullivan. Furthermore, no
part may be reproduced, stored in a retrieval system, or transmitted in any form or by
any means, electronic, mechanical, photocopying, recording or otherwise, without the
written permission of Frost & Sullivan.
360-DEGREE RESEARCH: SEEING ORDER IN
THE CHAOS
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